In the Red – The Business Bankruptcy Blog

In the Red – The Business Bankruptcy Blog

The Business Bankrupty Blog

Tag Archives: BAPCPA

Going Up: Bankruptcy Dollar Amounts Will Increase On April 1, 2013

Posted in Business Bankruptcy Issues, Recent Developments
It hasn’t gotten much publicity yet, but certain dollar amounts in the Bankruptcy Code will be increased for new cases filed on or after April 1, 2013. Follow this link for a chart listing all of the changes on this Federal Register page, which printed this month’s official notice from the Judicial Conference of the United … Continue Reading

Blast From The Past: Website Provides Quick Access To Older Bankruptcy Code Sections

Posted in Business Bankruptcy Issues, Recent Developments
Thanks to Professor Robert Lawless of the University of Illinois College of Law, also of the Credit Slips blog, you can now save yourself from combing through dusty old books to find the language of Bankruptcy Code provisions going back as far as 1980. Need to find how Section 547 was worded prior to the enactment of the Bankruptcy … Continue Reading

Official Bankruptcy Forms Revised To Reflect April 1, 2010 Dollar Amount Adjustments

Posted in Business Bankruptcy Issues, Recent Developments
As discussed in an earlier post called "On The Rise: Bankruptcy Dollar Amounts Will Increase On April 1, 2010," various dollar amounts in the Bankruptcy Code and related statutory provisions were increased for cases filed on or after April 1, 2010. Now several official bankruptcy forms have been revised to reflect these new dollar amounts. The updated … Continue Reading

On The Rise: Bankruptcy Dollar Amounts Will Increase On April 1, 2010

Posted in Business Bankruptcy Issues, Recent Developments
It hasn’t gotten much publicity yet, but certain dollar amounts in the Bankruptcy Code will be increased for cases filed on or after April 1, 2010. You can find a chart listing all of the changes on this Federal Register page, which printed last month’s official notice from the Judicial Conference of the United States. … Continue Reading

Who’s SARE Now? Bankruptcy’s Single Asset Real Estate Rules And Their Impact On Commercial Real Estate

Posted in Business Bankruptcy Issues
Given the state of commercial real estate, the prospect for defaults by commercial borrowers has greatly increased. The last time there was a significant downturn in the commercial real estate sector in the early 1990s, owners of buildings and other real estate often turned to Chapter 11 bankruptcy as a method of buying time and, in some cases, lowering … Continue Reading

Fall 2009 Edition Of Absolute Priority Now Available

Posted in Business Bankruptcy Issues, Recent Developments
The Fall 2009 edition of the Absolute Priority newsletter, published by the Cooley Godward Kronish LLP Bankruptcy & Restructuring group, of which I am a member, has just been released. The newsletter gives updates on current developments and trends in the bankruptcy and workout area. Follow the links in this sentence to access a copy of the … Continue Reading

Spring 2009 Edition Of Bankruptcy Resource Is Now Available

Posted in Business Bankruptcy Issues, Recent Developments
The Spring 2009 edition of the Absolute Priority newsletter, published by the Cooley Godward Kronish LLP Bankruptcy & Restructuring group, of which I am a member, has just been released. The newsletter gives updates on current developments and trends in the bankruptcy and workout area. Follow the links in this sentence to access a copy of … Continue Reading

Text Of Legislation To Repeal Certain Of BAPCPA’s Business Bankruptcy Changes Affecting Retailers Now Available

Posted in Business Bankruptcy Issues, Recent Developments
As reported in a post on the blog earlier this week, on April 2, 2009, Representative Jerrold Nadler (D-NY) introduced a bill entitled the "Business Reorganization and Job Protection Act of 2009." At that time the official text of the legislation was not available. The full text of the legislation, which has been referred to the Committee … Continue Reading

Legislation Introduced To Repeal Certain Business Bankruptcy Changes Made By BAPCPA’s 2005 Amendments

Posted in Business Bankruptcy Issues, Recent Developments
On April 2, 2009, Representative Jerrold Nadler (D-NY) introduced a bill entitled the "Business Reorganization and Job Protection Act of 2009." The bill has been co-sponsored by Representative Steve Cohen (D-TN), the Chairman of the Subcommittee on Commercial and Administrative Law of the United States House of Representatives Committee on the Judiciary. As of the date … Continue Reading

New Article Looks At BAPCPA’s Impact On Retailers In Chapter 11

Posted in Business Bankruptcy Issues, Recent Developments
My colleagues Lawrence C. Gottlieb, Michael Klein, and Ronald R. Sussman recently authored an article entitled "BAPCPA’s Effects on Retail Chapter 11s Are Profound," in the February 2009 edition of the The Journal of Corporate Renewal, published by the Turnaround Management Association. You can access a copy of the article by clicking on its title in the … Continue Reading

Amendments To The Federal Bankruptcy Rules Take Effect December 1, 2008

Posted in Business Bankruptcy Issues, Recent Developments
Nearly every year, changes are made to the Federal Rules of Bankruptcy Procedure — the ones that govern how bankruptcy cases are managed — to address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. This year’s amendments to the national bankruptcy rules take effect on December 1, 2008.  Business Bankruptcy … Continue Reading

The 2005 Bankruptcy Law Changes And Their Impact On Retail Reorganizations

Posted in Business Bankruptcy Issues, Recent Developments
On September 26, 2008, my partner Lawrence Gottlieb, the Chair of the Bankruptcy & Restructuring Group at Cooley Godward Kronish LLP, testified before the Subcommittee on Commercial and Administrative Law of the United States House of Representatives Committee on the Judiciary.  Joining him at the hearing were Professor Jay Westbrook of the University of Texas Law School … Continue Reading

Northern District of California Bankruptcy Court Local Rule Amendments Take Effect May 1, 2008

Posted in Business Bankruptcy Issues, Recent Developments
As previously reported, in August 2007 the Bankruptcy Court for the Northern District of California proposed amendments to the Bankruptcy Local Rules designed to implement the changes made by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (known as BAPCPA). After taking comments, the final amendments are scheduled to take effect on May … Continue Reading

Two Ways To Get The Updated Bankruptcy Code Online For Free

Posted in Business Bankruptcy Issues, Recent Developments
Looking for a free, online and updated version of the entire Bankruptcy Code, reflecting the amendments made by the Bankruptcy Abuse Prevention and Consumer Protection Act ("BAPCPA")? Now there are two ways to access it. First, the Cornell University Law School’s U.S. Code Collection has updated its online version of Title 11 to reflect the changes made … Continue Reading

The Terrible Twos? A Look At BAPCPA’s Impact On Business Bankruptcy Cases At Its Second Anniversary

Posted in Business Bankruptcy Issues
Tomorrow, October 17, 2007, marks the second anniversary of the effective date of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, known as BAPCPA.  BAPCPA was enacted primarily to make sweeping changes to the consumer provisions of the Bankruptcy Code. However, BAPCPA also made significant revisions in the business bankruptcy arena.  When it was … Continue Reading

The Best Of Both Worlds: Can A Secured Creditor Get A Section 503(b)(9) “20 Day Goods” Administrative Claim Too?

Posted in Business Bankruptcy Issues, Recent Developments, The Financially Troubled Company
In a decision from August 17, 2007, just released for publication, the Ninth Circuit’s Bankruptcy Appellate Panel (BAP) faced a previously unanswered question under Section 503(b)(9) of the Bankruptcy Code, the section enacted as part of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (known as BAPCPA).  Is a Section 503(b)(9) administrative claim available … Continue Reading

Northern District Of California Bankruptcy Court Proposes Amendments To Local Rules

Posted in Business Bankruptcy Issues, Recent Developments
As bankruptcy lawyers know, complying with local rules is an essential part of appearing before a particular court. In response to the changes made by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (known as BAPCPA), as well as the implementation of the electronic case filing system (called ECF), the Bankruptcy Judges for the … Continue Reading

Lack Of Recognition: New Case Shows That Chapter 15 International Bankruptcy Protection Isn’t Automatic

Posted in Business Bankruptcy Issues, Recent Developments
On August 30, 2007, in twin decisions in recent cases involving two Bear Stearns hedge funds (available here and here), Judge Burton R. Lifland of the U.S. Bankruptcy Court for the Southern District of New York made clear that recognizing a foreign insolvency proceeding in a Chapter 15 cross-border bankruptcy case is not to be … Continue Reading

Delaware Bankruptcy Court Considers Whether Key Employee Incentive Plan Milestones Can Be Lowered Without Triggering The Restrictions On Retention Plans

Posted in Business Bankruptcy Issues, Recent Developments, The Financially Troubled Company
One of the significant changes made by the Bankruptcy Code amendments that took effect in October 2005 was the imposition of severe restrictions on "key employee retention plans," known in the bankruptcy world as KERPs.  In this post I’ll discuss how several courts have handled these issues in the year and a half since the … Continue Reading

In Important New Ruling, New York Bankruptcy Court Applies Prior Lien Defense To Post-BAPCPA Reclamation Claims

Posted in Business Bankruptcy Issues, Recent Developments
On Thursday, April 19, 2007, in perhaps only the second decision on reclamation since the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) took effect in October 2005, Judge Burton R. Lifland of the U.S. Bankruptcy Court for the Southern District of New York issued this Memorandum Decision in the In re Dana Corporation Chapter … Continue Reading

Proof Of Claim And Other Bankruptcy Forms Revised To Reflect April 1, 2007 Dollar Amount Adjustments

Posted in Business Bankruptcy Issues, Recent Developments
As reported in this post last month, certain dollar amounts in the Bankruptcy Code were increased effective April 1, 2007. The dollar amount changes meant that some of the official bankruptcy forms, most notably the proof of claim form and the voluntary petition, had to be revised as well. After I put up that post, the … Continue Reading

Defending A Preference: Ninth Circuit Holds That Even First Time Transactions Can Be In The “Ordinary Course”

Posted in Business Bankruptcy Issues, Recent Developments, The Financially Troubled Company
In a decision issued on April 3, 2007 in the In re: Ahaza Systems, Inc. case, the Ninth Circuit held that even first time transactions can qualify for the "ordinary course of business" defense to preferences. A copy of the Court of Appeal’s decision is available here. The Bankruptcy Preference. As a quick refresher, preferences … Continue Reading

No Fooling: Bankruptcy Code Dollar Amounts Will Increase On April 1st

Posted in Business Bankruptcy Issues, Recent Developments
Although it hasn’t gotten much publicity, certain dollar amounts in the Bankruptcy Code will be increased for cases filed on or after April 1, 2007. You can find a chart listing all of the changes on this Federal Register page, which printed last month’s official notice from the Judicial Conference of the United States.  Among the most meaningful for business … Continue Reading

Retail Bankruptcies: New Article Examines How The 2005 Bankruptcy Code Amendments Have Impacted Retailers

Posted in Business Bankruptcy Issues, Recent Developments
I wanted to let you know about a new article recently published in the New York Law Journal by my colleagues Lawrence Gottlieb, the Chair of the Cooley Godward Kronish Bankruptcy & Restructuring Group, and Seth Van Aalten. Entitled "Is The Death Knell Sounding For Retail Reorganizations?," it examines how the changes made by the … Continue Reading